The probate process and terminology will differ depending on which country it is being carried out in and whether there is a Will or not.
When there is a Will
The main actions that the executor will need to carry out are to:
- Write to all the asset and liability holders requesting confirmation of the value of the assets and liabilities of the deceased at the date of death and of any income received in the last year
- Establish if the estate is solvent
- Establish if there is sufficient money to meet all legacies in full - if not, deal with the subsequent problems
- Complete form IHT 400 if the estate is subject to inheritance tax
- Arrange funds or a loan to pay probate fees and inheritance tax
- Complete and return all forms to the Probate Registry (Sheriff Clerk in Scotland)
- Receive the grant of probate (‘confirmation' in Scotland)
- Place the statutory advertisement for creditors and other claimants subject to the requirements of the particular country (this does not apply in Scotland, where instead the executors must obtain a Bond of Caution)
- Present the grant of probate/confirmation to the appropriate authorities
- Collect all the assets due to the estate (‘in-gather' the estate in Scotland)
- If the district valuer has not agreed with the valuation of the property, negotiate a new value and arrange payment of the extra tax
- Complete the income tax forms and capital gains tax forms for the period of administration
- Release sufficient cash to pay all debts
- Where relevant, complete stock and share transfer forms and draft an assent for the house
- If there has been a claim under the Inheritance (Provision for Family and Dependants) Act 1975, deal with the claim (this does not apply to Scotland)
- Prepare the estate accounts
- Administer any trusts or life interests created within the will or statute
- Obtain approval of the estate accounts and distribute the assets to the beneficiaries of the Will
When there is no Will (intestacy) in England and Wales
If the person died intestate, i.e. no Will was written or no Will can be traced (even if it is thought one may have been written in the past) you can see an overview of how the estate needs to be distributed by clicking on the document below. This hierarchy of distribution is determined by law.